If you want insights into the future for NFTs then read on.
In May, people were buying and selling an estimated 85,787 NFTs—at a total value of $5.8 million—a day, according to application tracking firm DappRadar. – Forbes
A few very interesting things to keep you updated with as this space is growing. I am working with a partner that has the ability to white label an NFT portal just for a brand’s offerings and has the ability to move them into copacetic blockchains like the Ethereum Blockchain. What this would mean for you would be the ability to fully control a space for your brand’s catalog featuring items and growing a community. They also have the ability for simple trading in currency i.e. the US Dollar rather than just in Crypto, so people can now invest in NFTs using a credit card. This is a game-changer for the space and will further accelerate the adoption of purchasing NFTs.
NFT Market Rages On: NFTs Market Cap Grows 1,785% In 2021 As Demand Explodes
The demand for NFTs is continuing to surge and the NFT market is showing no signs of slowing down.
Year-to-date, within less than three months, the combined market cap of major NFT projects has increased by 1,785%.
Consequently, major NFT marketplaces, like Rarible and Opensea, saw their sales rise by anywhere between 50-fold to 100-fold in the past three months.
Opensea, as an example, barely saw $5 million in cumulative sales in the first week of January 2021. Since then, within merely three months, Opensea saw its cumulative sales spike to over $100 million.
The NFT market is seeing large investments coming from companies, funds, exchanges, and traditional VC firms from both crypto and the tech sector. Opensea raised $23 million in a round led by Andreessen Horowitz, showing the major venture capital firm’s confidence in the long-term trajectory of the NFT market.
Some content courtesy of Forbes Online
Other contributors Joesph Young (Crypto and Blockchain)
GCG develops strategies and positions our client’s offerings in the NFT marketplace. We are marketing executives with experience leading small and enterprise businesses at all stages of marketing maturity to help you get closer to meeting and exceeding your goals.